Sagespring Wealth Partners LLC Takes $470,000 Position in Sony Group Co. (NYSE:SONY)

Sagespring Wealth Partners LLC purchased a new position in shares of Sony Group Co. (NYSE:SONY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 22,204 shares of the company’s stock, valued at approximately $470,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners lifted its position in shares of Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after purchasing an additional 927 shares during the last quarter. General Partner Inc. lifted its holdings in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Sony Group in the 4th quarter valued at about $26,000. Fairscale Capital LLC grew its stake in Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after acquiring an additional 992 shares in the last quarter. Finally, Accent Capital Management LLC increased its position in shares of Sony Group by 400.0% during the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock worth $29,000 after acquiring an additional 1,104 shares during the period. 14.05% of the stock is currently owned by institutional investors.

Sony Group Price Performance

Shares of SONY stock opened at $23.68 on Wednesday. The stock’s 50-day moving average is $23.97 and its 200 day moving average is $21.38. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market cap of $143.18 billion, a P/E ratio of 19.22, a PEG ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Research analysts predict that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SONY shares. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. Wolfe Research restated a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. The Goldman Sachs Group began coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating for the company. Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.00.

About Sony Group

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.